Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life provides a death benefit if you pass away during a set period—usually 10, 15, 20, 25, or 30 years—for a flat monthly payment. When the period ends, coverage stops or renews at a much higher cost. This is the most affordable way to buy substantial protection during the years your family needs it most.
Permanent life (whole life, universal life, and similar products) covers you for life and accumulates a cash value within the policy. Costs are significantly higher than term for the same death benefit, and cash builds slowly in the early years. It suits people with lifelong obligations: a person who will always need support, property transfer planning, or a business succession situation.
How to choose
Start with the need, not the product type. If that need has a finish line—a paid-off mortgage, independent kids, a loan that expires—term coverage lines up perfectly. If the need never ends, permanent coverage or a term policy with conversion rights may fit. Many carriers let you trade term for permanent later without another medical exam during a set conversion window; each quote shows conversion options.
What people in San Carlos often do
Many people use a 20- or 30-year term policy sized to their actual obligations, and revisit it when life changes. This keeps prices reasonable and lets you buy the amount that matters. Susman Insurance Agency can address permanent coverage if you have needs that never expire.